Pricing Actuary, Property

MRSG is part of the Munich RE group. We are known for our dedication to excellence and quality of service provision across both primary and reinsurance.
As well as operating in the Lloyd’s of London market, we conduct our business via a global network of service companies, with offices located in the UK, Ireland, the United States, Asia, including Singapore, Labuan and Dubai.
Our group of companies provide solutions covering Casualty, Marine & Cargo, Aerospace, Cyber, Political Violence, Trade Credit and Property, Contingency and Yacht. Our purpose is to inspire our clients and people with the confidence and freedom to explore, create and build – to enable people and businesses to thrive.
Property Pricing Actuary
We are looking to employ an Property Pricing Actuary to be based in London, Manchester or Birmingham and to work with us on a Full Time basis.
This position will provision of actuarial pricing support to MRSL.
The Role
Assist the Property Pricing Manager in providing effective, efficient and reliable Pricing support to the underwriting division, ensuring all pricing related regulations and requirements are adhered to, to assist the business in achieving a profitable and successful operating model
Support pricing team in achieving the high standards as indicated within the Lloyd’s oversight framework, including technical rating of all risks and regular monitoring of Delegated underwriting contracts
Support and mentor more junior team members, including review of their work
Work independently on individual pricing assessments of large or unique risks, or monitoring of Delegated underwriting contracts, including clear communication of results to the underwriters
Build, review, maintain and enhance pricing models, striving to achieve the optimum balance between rating integrity and market suitability while considering data availability and user capabilities
Assist in development work – for example to streamline operational processes relating to data management
Support for syndicate business planning process
New business initiative analyses and independent reviews
Ensure all advice offered is in line with TAS requirements
Help drive forward good Conduct for the business to deliver the best outcomes for customers / policyholders.
What we are looking for
4+ years of pricing experience in the London Market
Knowledge and understanding of FCA regulations and Lloyd’s standards
Knowledge and understanding of the underlying principles of insurance and reinsurance
Highly developed mathematical / statistical knowledge
Detailed knowledge of actuarial methods and techniques, and the ability to apply them in practice, making reasoned judgements within a business environment
Current Lloyd’s market knowledge
Knowledge and understanding of the dynamics and rating considerations for Property.
Experience with mentoring junior members of an actuarial team.
Willingness to continue to develop knowledge of any pricing related matters.
Qualifications
University degree in Mathematics, Actuarial Science, Statistics, Economics or similar discipline.
Qualification as a fellow of the Institute and Faculty of Actuaries or equivalent international body and / or relevant work experience (4+ years) in a dedicated actuarial role.
Your career with us
At MRSG, you’ll find the flexibility, development and support you need to excel your career combined with a competitive salary and a benefits package that promotes wellbeing and work-life balance, on top of the standard features that include a non-contributory pension, private medical care, life assurance and more!
Diversity & Inclusion
Creating an inclusive environment is a crucial part of the Munich Re culture, and we are committed to our Diversity & Inclusion Policy. We also seek to provide a fair and supportive work environment which provides learning and development opportunities for all.
Working together, we are an employer of choice by building the workforce for today and the future. We make it happen. Together.
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